Forum Financial Management LP Has $2.59 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Forum Financial Management LP lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 15.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,905 shares of the Internet television network’s stock after selling 541 shares during the quarter. Forum Financial Management LP’s holdings in Netflix were worth $2,589,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NFLX. Generation Capital Management LLC acquired a new position in Netflix during the 4th quarter worth approximately $2,088,000. GeoWealth Management LLC increased its holdings in shares of Netflix by 3.5% during the fourth quarter. GeoWealth Management LLC now owns 2,849 shares of the Internet television network’s stock worth $2,539,000 after buying an additional 96 shares in the last quarter. Capital International Ltd. CA lifted its stake in shares of Netflix by 0.3% in the 4th quarter. Capital International Ltd. CA now owns 69,138 shares of the Internet television network’s stock valued at $61,624,000 after acquiring an additional 241 shares during the last quarter. Capital Group Private Client Services Inc. boosted its holdings in shares of Netflix by 22.3% during the 4th quarter. Capital Group Private Client Services Inc. now owns 30,259 shares of the Internet television network’s stock valued at $26,970,000 after acquiring an additional 5,519 shares in the last quarter. Finally, Capital International Sarl boosted its holdings in shares of Netflix by 5.1% during the 4th quarter. Capital International Sarl now owns 104,420 shares of the Internet television network’s stock valued at $93,072,000 after acquiring an additional 5,113 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on NFLX shares. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and increased their price objective for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Oppenheimer raised their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Morgan Stanley boosted their target price on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Moffett Nathanson raised Netflix from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $850.00 to $1,100.00 in a report on Monday, March 17th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,020.63.

Insider Activity

In related news, insider David A. Hyman sold 41,121 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $12,700,583. This represents a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,312 shares of company stock valued at $267,919,297 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

NASDAQ NFLX opened at $973.03 on Friday. The company has a market capitalization of $416.22 billion, a price-to-earnings ratio of 49.07, a PEG ratio of 2.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The stock has a 50-day moving average of $955.57 and a 200 day moving average of $889.98.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same period last year, the firm earned $8.28 EPS. On average, sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.